By Susanna Moon
Chicago, May 21 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due May 12, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.65% if the index closes at or above its 85% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless the index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income callable securities
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| Underlying index: | Euro Stoxx 50 index
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| Amount: | $1 million
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| Maturity: | May 12, 2023
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| Coupon: | 10.65% annualized, payable quarterly if index closes at or above 85% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If index finishes at or above 70% downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if the index closes at or above its initial level on any quarterly call date beginning May 14, 2019
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| Initial level: | 3,569.74
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| Coupon barrier: | 3,034.279, 85% of initial level
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| Downside threshold: | 2,498.818, 70% of initial level
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| Pricing date: | May 9
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| Settlement date: | May 14
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768C2H9
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